Ksolves India Ltd Share Price – NSE  / BSE

IT - Software, Small Cap

The frontline indices traded with substantial gains in early afternoon trade after five days of steep decline amid value buying at lower levels and a rally in global markets. The Nifty traded above the 23,700 level. Oil & gas shares advanced after declining in past past five consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, soared rallied 486.86 points or 0.62% to 78,528.39. The Nifty 50 index jumped 157.70 points or 0.67% to 23,745.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.43% and the S&P BSE Small-Cap index fell 0.47%.

The market breadth was positive. On the BSE, 1,821 shares rose and 2,103 shares fell. A total of 187 shares were unchanged.

Economy:

India's foreign exchange reserves dipped by $1.98 billion to $652.87 billion as of December 13, according to data shared by the Reserve Bank of India (RBI) on Friday.

The Weekly Statistical Supplement released by the RBI showed that the primary contributor to this decline was the drop in Foreign Currency Assets (FCAs), which fell by $3 billion to $562.58 billion.

Meanwhile, gold reserves were up by $1.12 billion, bringing the total to $68 billion.

The Special Drawing Rights (SDRs) dipped by $35 million, now totaling $17.99 billion, while the reserve position in the International Monetary Fund (IMF) contracted by $27 million, standing at $42.40 billion.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 7.79% to 13.90. The Nifty 26 December 2024 futures were trading at 23,798, at a premium of 52.80 points as compared with the spot at 23,745.20.

The Nifty option chain for the 26 December 2024 expiry showed a maximum call OI of 144 lakh contracts at the 25,000 strike price. Maximum put OI of 113.2 lakh contracts was seen at 23,500 strike price.

Buzzing Index:

The Nifty Oil & Gas index gained 1.03% to 10,716.35. The index fell 4.95% in past five consecutive trading sessions.

Hindustan Petroleum Corporation (up 2.65%), Oil & Natural Gas Corpn (up 1.73%), GAIL (India) (up 1.71%), Indian Oil Corporation (up 1.63%), Reliance Industries (up 1.5%), Bharat Petroleum Corporation (up 1.33%), Petronet LNG (up 1.17%), Mahanagar Gas (up 0.96%), Gujarat Gas (up 0.72%) and Oil India (up 0.47%) advanced.

On the other hand, Aegis Logistics (down 3.38%), Castrol India (down 1.81%) and Gujarat State Petronet (down 0.26%) edged lower.

Stocks in Spotlight:

Ksolves India slipped 3.62%. The company’s board has approved the proposal of sub-division of one equity share having a face value of Rs 10 each into two equity shares having a face value of Rs 5 each.

Suraksha Diagnostic declined 2%. The company reported 21.85% jump in consolidated net profit to Rs 10.15 crore in Q2 FY25 as compared with Rs 8.33 crore in Q2 FY24. Revenue from operations increased 11.18% YoY to Rs 66.75 crore during the quarter ended 30 September 2024.

Bigbloc Construction rallied 3.32% after the company announced that it has s secured a work order from TATA Projects worth Rs 4.5 crore.

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The company stated that the rationale behind this proposal is to enhance the liquidity of its equity shares and make it affordable to the investors.

The stock split is expected to be completed approximately within 2 months from the date of approval of the members of the company and subject to completion of the necessary formalities.

Ksolves India is involved in other computer-related activities, for example, maintenance of websites of other firms, creation of multimedia presentations for other firms, etc.

The company’s consolidated net profit rose 11.7% to Rs 9.19 crore on a 34% jump in net sales to Rs 34.82 crore in Q2 FY25 over Q2 FY24.

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Ksolves India will hold a meeting of the Board of Directors of the Company on 20 December 2024.

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Net profit of Ksolves India rose 11.66% to Rs 9.19 crore in the quarter ended September 2024 as against Rs 8.23 crore during the previous quarter ended September 2023. Sales rose 34.03% to Rs 34.82 crore in the quarter ended September 2024 as against Rs 25.98 crore during the previous quarter ended September 2023.

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